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SCI Shared Resources $2M 401(k) Plan Class Action Settlement

SCI Shared Resources $2M 401(k) Plan Class Action Settlement

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SCI Shared Resources, LLC is facing a class action lawsuit alleging mismanagement of its employee 401(k) retirement plan in violation of the Employee Retirement Income Security Act (ERISA). The lawsuit claims that plan fiduciaries failed to act in the best interests of plan participants — potentially costing employees money through excessive fees, poor investment options, or other mismanagement of retirement funds. A $2 million settlement fund has been established to compensate affected workers. If you were a participant in the SCI Shared Resources 401(k) retirement plan during the relevant time period, you may be entitled to a share of this settlement. These types of ERISA settlements are designed to put money back in the pockets of everyday workers whose retirement savings may have been impacted by decisions made on their behalf. Settlement details including the exact claim deadline and individual payout amounts are still being confirmed. Class Action Buddy is tracking this settlement and can help you file your claim as soon as the process opens up.
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Who Is Eligible?

You may be eligible to file a claim if you:

  • You were a current or former employee of SCI Shared Resources, LLC
  • You participated in the SCI Shared Resources 401(k) retirement plan during the covered period (exact dates to be confirmed)
  • Your retirement account was invested in or affected by the plan during the relevant time frame
  • You are a U.S.-based plan participant — this settlement covers eligible employees nationwide

How Much Can You Get?

The total settlement fund is $2 million, which will be distributed among eligible plan participants. Individual payout amounts will depend on factors such as how long you participated in the plan and your account balance during the covered period — a calculation method common in ERISA retirement plan settlements. Specific payout amounts per person have not yet been publicly disclosed. Once the settlement administrator releases that information, Class Action Buddy will update this page. Keep in mind that attorney fees and administrative costs will be deducted from the $2 million fund before distributions are made to class members.

How to File Your Claim

Filing your claim is quick and easy:

  • Confirm you were a participant in the SCI Shared Resources 401(k) plan during the covered period
  • Gather any relevant documents, such as old 401(k) statements, employment records, or plan participation notices — these may be needed to verify your claim
  • Wait for the official claim form to be released by the settlement administrator (details pending)
  • Complete and submit the claim form before the deadline — even if no deadline has been announced yet, act promptly once one is set
  • Download the Class Action Buddy app to get notified when this claim opens, receive step-by-step filing help, and track your submission

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Frequently Asked Questions

How do I file a claim for the SCI Shared Resources $2M 401(k) Plan Class Action Settlement?

You have two options: (1) Use the free Class Action Buddy mobile app — set up your profile once and the app fills in the official PDF claim form and captures your signature, then your signed claim is printed and posted to the administrator. (2) File directly with the settlement administrator using the official claim form linked on this page.

What is the SCI Shared Resources 401(k) class action lawsuit about?

The lawsuit alleges that SCI Shared Resources breached its fiduciary duties under ERISA by mismanaging the company's 401(k) retirement plan. This could include things like selecting investment options with excessive fees or failing to act in the best financial interests of plan participants. A $2 million settlement has been reached to compensate affected employees.

Who qualifies for the SCI Shared Resources ERISA settlement?

Current and former employees who participated in the SCI Shared Resources 401(k) retirement plan during the relevant covered period are likely eligible. The exact qualifying dates have not yet been publicly confirmed, so check back for updates or use Class Action Buddy to get notified when more details are available.

Do I need proof to file a claim in the SCI 401(k) settlement?

It's possible that some documentation — such as old 401(k) statements or employment records — may be required to verify your participation in the plan. The exact proof requirements will be clarified when the official claim form is released. It's a good idea to gather any retirement plan documents you have on hand just in case.

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